Insurance Premiums Advantages
Wind Mitigation discounts are applied towards the windstorm portion of your overall insurance premium. Depending on where you are located in Florida, the windstorm portion is between 15% and 70% of the total premium. The premium determination is very complex and actual dollar discounts are not calculated here. For exact quotes, you must contact your insurance agent or the individual insurance company in question. The three primary aspects regarding wind mitigation discount rates include: The number of wind resistive construction features present on your condo or home - The more wind resistive features you have, the higher the total discount will be for your property. The discounts may reduce your premiums by up to 45% or more of the wind portion of the insurance premium.
The location of your condo or home - Discounted wind insurance rates are adjusted according to where your property is located within the state. If your wind insurance rates are high, then the percentage of discounts will be greater for a condo or house in a high rate area versus the same condo or house in a lower rate area. The value of your condo or home - High value condos or homes has higher premiums. Therefore, the value of the discounts will increase with the value of the condo or home.
Wind mitigation discounts are warranted because stronger, more wind-resistive houses have lower windstorm losses. Lower windstorm losses equal reduced costs to insurance companies that are then passed on to the consumer. Many homeowners have taken advantage of the insurance discount incentive and strengthened their existing condo or home using the strongest options in the Florida Building Code. The discounted insurance rates in Florida apply to both existing construction (condos and homes built prior to 2002) and new construction built to the new statewide Florida Building Code (FBC).
What can lower your insurance premiums?
- Shingles or other roof coverings, such as our roof shield system that meets the Florida Building Code requirements
- Roof decking that has been installed with larger nails or screws with closer spacing
- Hurricane clips and/or straps that secure the roof structure to the supporting walls
- Full or partial protection of windows and glass doors with impact resistant glazing or other protection methods.
- Secondary water resistance barrier that prevents the roof from leaking if the shingles are blown off in a windstorm
- Newer homes and condominiums built since the new code requiring these features have been enacted.